Why do we need to do Foreign Currency Evaluation

Question Posted / guest

2 Answers
11519 Views
IBM, I also Faced
E-Mail Answers

Answers were Sorted based on User's Feedback

Why do we need to do Foreign Currency Evaluation..

Answer / satish kulkarni

When we do balance sheet, open items in
vendors/customer/ledger line item which are in foreign
currency should be shown correctly.

As per account standard--11 of ICAI these should valuated
at balance sheet date & what ever gain/loss should be
accounted for.

This is reason we do foreign currency valueation.

In SAP customization done through OB59 & OBA1. We have
define method for valuation. In method along with other
parameter we define which rate should be taken to valuate
foreigh currency.

Actual valuation we do by T-code F.05

Regards

Is This Answer Correct ?

8 Yes

1 No

Why do we need to do Foreign Currency Evaluation..

Answer / kiran kumar kakolu

In order to check the accounts both in local company and
parent company we need to do foriegn currency evaluation.

With this we can calculate the direct quote of local
currency to foreign currency

Is This Answer Correct ?

3 Yes

4 No

Post New Answer

More SAP FI-CO (Financial Accounting & Controlling) Interview Questions

what is the entry date ,document date, posting date, value date, and next run date

2 Answers Accenture,

Hi....at present i am pursuing M.B.A III-sem my major is finance so i want to join SAP(FICO)course...i want to know which is the best institute in hyderabad and is it the right time to start the course or joining after getting some real corporate experiance,is it make much difference in learning

5 Answers CTS,

where do you open and close periods.

2 Answers

friends what is the cost object? what is the defference between cost object and cost center?

7 Answers

What is open line item management? What do you mean by clearing open line items?

14 Answers

what is controlling object for settlement of prod.order?

2 Answers iGate,

Where are payment terms for vendor master maintained?

0 Answers

Hello friends i am preparing For SAP FICO, can u please suggest me how can i find the jobs openings?, how shall i prepare for it? and on what area i should more focus on? which kind of questions can enterviewer can ask me and how shall i reply. can please get any reference from your side.. please. i am just craving to get the job please help me....... please reply me on E-mail: g.amresh@gmail.com ....

0 Answers SAP Labs,

What is parallel and local currency in sap?

0 Answers

Tell me some important tickets in fico?

0 Answers IBM, ITC Infotech,

what role & responsibilities we must show in sap fi implementation resume

0 Answers

What is reconciliation account; can you directly enter documents in that a/c?

10 Answers

For more SAP FI-CO (Financial Accounting & Controlling) Interview Questions Click Here